If you’re a millennial in Cape Town and you want to buy a
house soon, but you haven’t stopped buying all those avocados yet, you might
want to reconsider.
Lightstone, an analytics company with a unique insight into
South Africa’s property market, released its new report detailing South
Africa’s “most valuable” suburbs.
The report is released annually and uses a set of tangible
data to give a snapshot view of properties in the area. Lightstone said in its
“Like previous years, the Cape Town’s property growth remains above the national average. The top three inflationary growth suburbs in the Western Cape over the last 12 months are Silwood Heights, Voëlklip and Hospital Hill.”
While there is currently a lot of controversy surrounding property
valuations in Cape Town, the suburbs and streets that have come out top as most
expensive (or rather, with the highest property values) aren’t surprising.
The plush beach suburbs dominate the list. We’ve used the
average values from the Lightstone report and sourced pictures from properties
listed for sale across the web.
So, how does the other half live? Let’s take a little look.
You might want to buy a lotto ticket rather than just quit the avos, though.
Cape Town’s top five most expensive suburbs
Average value: R19.3 million
House in photo: Listing price, R44 million, five bedrooms
and five bathrooms. Four garages.
De Bosch (Stellenbosch)
Average value: R17.3 million
House in photo: Listed at R6.95 million (reduced), four
bedrooms, three bathrooms and two garages.
Average value: R15.1 million
House in photo: Listed at R16.8 million, four bedrooms,
bathrooms and garages. Cat and booze not included, we assume.
Average value: R14.8 million
Bit of a suburb within a suburb situation here. But we’ve
got some info anyway. House in photo: Listed at R16.8 million, four bedrooms,
four and a half bathrooms and four garages.
Average value: R13.7 million
House in photo: Listed at R85 million (!!!), seven bedrooms,
seven and a half bathrooms and six garages.
Cape Town’s top five most expensive streets
Filtering properties by street is a bit tricky – and there
is no guarantee that there will be a listing available for that street. So, we won’t go around depressing you any
further with a reminder of just how much money you don’t have.
Beauvais Avenue, Bel Ombre
Average value: R43.7 million
Ravine Road, Bantry Bay
Average value: R27.5 million
Logies Road, Llandudno
Average value: R27.2 million
Avenue St Louis, Fresnaye
Average value: R21.4 million
Chesterfield Road, Oranjezicht
Average value: R21.2 million